A bevy of celebrities are investing in Cambridge-based Hydrow, a rowing technology startup aiming to become the Peloton of its sport.
Grammy-winning artists Lizzo and Justin Timberlake are among the latest investors to throw in funds. The company has cumulatively raised $200 million, it announced Tuesday. Other previously undisclosed investors include Green Bay Packers quarterback Aaron Rodgers, Kansas City Chiefs tight end Travis Kelce and comedians Whitney Cummings and Kevin Hart.
Hydrow's connected rowing device, which goes for upwards of $2,000, comes with an HD screen and speakers. The startup has sold more than 10,000 of the machines, and was a beneficiary of a pandemic-fueled home fitness craze that helped it grow in the last two years.
This isn’t the first time that Hydrow, founded in 2017 by former USA rowing national team coach Bruce Smith, has courted celebrities. Hart became the company’s creative director in 2020.
“I invested in Hydrow because pound for pound, there's no better workout out there than rowing,” the comedian and actor said in a statement Tuesday. “I signed on as creative director because I truly believe in this machine's potential to change people's lives. You're getting so much more than a workout each time you strap in. You're shifting your mindset, and that's a powerful thing.”
Hart is one of several celebrities to take on leadership roles at Boston companies in the last few years. Zooey Deschaniel recently signed on with local appmaker Merryfield and Gisele Bündchen is a special advisor to the CEO of DraftKings.
The company did not disclose its latest valuation.
Here are the tech SPAC deals so far this year:
Tech SPAC mergers 2021
Company: Boston financial tech and crypto startup Circle Internet Financial Ltd.
SPAC: Concord Acquisition Corp. (NYSE: CND)
(Expected) trading start date: Q4 2021, on the New York Stock Exchange under the symbol "CRCL"
Pictured: Jeremy Allaire, founder and CEO of Circle
Company: Bedford-based robot maker Berkshire Grey (Nasdaq: BGRY)
SPAC: Revolution Acceleration Acquisition Corp.
Trading start date: July 22
Company: Waltham-based maker of AI touchless security-screening systems Evolv Technology (Nasdaq: EVLV)
SPAC: NewHold Investment Corp.
Trading start date: July 19
Pictured: Peter George (left), president and CEO of Evolv Technology, and Mike Ellenbogen, founder and head of advanced technology
Company: Watertown 3D-printing company Markforged Holding Corp. (NYSE: MKFG)
SPAC: One
Trading start date: July 15
Pictured: Pieces for face shields are made on a 3D printer at Markforged
